The ”South East Asia medical gloves“ market size is projected to reach USD 373.7 million by 2027, exhibiting a CAGR of 10.5% during the forecast period. Rising number of COVID-19 cases in major Southeast Asian economies is expected to spike the demand for medical gloves in the region, finds Fortune Business Insights™ in its report, titled “South East Asia Medical Gloves Market Size, Share & Industry Analysis, By Application (Surgical and Examination); By Material {Surgical (Latex and Synthetic) and Examination (Latex and Synthetic)}; By Category {Surgical (Powdered and Powder-free) and Examination (Powdered and Powder-free)} By End User {Surgical (Hospitals & Clinics, Diagnostic and Pathology Labs, Dental Clinics, and Others) and Examination (Hospitals & Clinics, Diagnostic and Pathology Labs, Dental Clinics, and Others)} and Country Forecast, 2020-2027”.

The coronavirus pandemic has hit several Southeast economies. According to the World Health Organization (WHO), in December 2020, confirmed COVID-19 cases in Myanmar stood at 100,431, with 2,132 deaths, while in the Philippines there are 442,785 confirmed cases, with 8,670 deaths. Vietnam, Thailand, Laos, and Cambodia have been exceptionally efficient at containing the spread of the virus, as per WHO data. In September 2020, Southeast Asian countries signed a declaration in Bangkok to collectively fight the coronavirus by augmenting the healthcare systems in the region. This initiative will favor the adoption disposable medical gloves in Southeast Asia as hospital admissions spike and the need for high-quality healthcare heightens in the region.

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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.

Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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The report states that the value of the market stood at USD 109.76 million in 2019 and provides the following:

  • Unrivalled diagnosis of the factors driving and constraining the market;
  • In-depth analysis of all possible market segments;
  • Comprehensive understanding of the positive and negative impacts of country-level developments on the market; and
  • Detailed profiling and evaluation of the key market players.

Driving Factor

Increasing Prevalence of Chronic Diseases to Foster Market Growth

One of the principal forces fueling the South East Asia medical gloves market growth is the persistent prevalence of non-communicable diseases (NCDs), mainly cardiovascular conditions, diabetes, cancer, and chronic respiratory diseases, in the Southeast Asian countries. In a recent report, the WHO has revealed that NCDs will kill approximately 10.4 million people in Southeast Asia between 2010 and 2020. More significantly, the WHO has highlighted that 48% of all NCD deaths in the region are below 70 years of age. Furthermore, the Institute of Health Metrics and Evaluation states that NCDs constitute 44% of the disability-adjusted life years in Southeast Asia. Chronic diseases, especially in severe cases, require constant medical attention and many times patients have to undergo multiple surgical procedures. The increasing incidence of chronic diseases in Southeast Asia is thus likely to generate booming demand for disposable medical gloves and accelerate the growth of this market.